How To Start Profitable Extension Board Manufacturing Business In India?
Introduction
A power strip also called an extension board, is a board with many plugs that is attached to a single, flexible power cord and protected from damage by a plastic casing.
It plugs into the wall outlets and sends power to the various outlets. Some extension boards have independent switches and LED indications to show which socket is being used, whereas others don't.
All of the appliances in a series circuit are connected in a straight line so that the full current flows through them. While the current remains constant along an extension board circuit, the voltage decreases across each resistance.
Steps To Start Profitable Extension Board Manufacturing Business In India?
1. Understand the Extension Board Manufacturing Business
Using a Circuit Breaker Many people make lucrative careers out of the production of electronic equipment since they are used by people of various socioeconomic backgrounds. Creating your own electrical extension board gives you an edge over the competition amongst the many suppliers and retailers in this industry. Additionally, the goods must be sold to shops; if anybody starts this business at a low level, he can make a lot of money.
Electronic switchboards, sockets, plugs, switches, 3-Pin, etc. can all be produced in this manufacturing business, as can a wide variety of other electrical and electronic devices and components.
2. Essential Things Required for Manufacturing
Extension board manufacturing is a business that requires many different things to get started, but the requirements for those things change depending on the size of the extension board manufacturers business. This is because the production of electric appliances requires different kinds of machines and raw materials depending on the size of the business. However, these are some of the items that you need to start any kind of business. If you start a business at the level, then fewer things are required, but you still need some of these things.
- Worker
- Business registration
- Brand Registration
- Packaging
3. Investment
Even if you start the business on a modest scale, you will still need to invest at least 4-5 lakh rupees to get it off the ground. This is because the machinery that is used to create electrical gadgets is quite expensive, and in addition to this, the entrepreneur needs to purchase raw materials. Because it involves manufacturing jobs, you will also need to buy materials. Because of this, you will also need to recruit people. Packaging, marketing, and everything else will need to be taken care of, which is why you should have a good amount of money before beginning this business.
4. License for Manufacturing Unit
Because it is a manufacturing firm, you will need to secure permits from a variety of authorities before you can begin operating the business. These authorities include:
- Trade License: -In order to start a manufacturing firm, a trade license must be obtained from the local government. With this license, the company will be legally registered, and in addition to this license, additional permission must be secured from the local authorities.
- MSME Registration: You must first of all get MSME registration done for this business in order to get started in the extension board manufacturing business. That's because if the business is set up under MSME, then your organization will get economic advantages under various schemes of the Government of India and its agencies. If you want to get started in the extension board manufacturing business, then you must first of all get MSME registration done. In addition to this, you have the option of advancing your company by borrowing money right away at extremely low-interest rates.
- Business Registration: If you want to turn your manufacturing company into a brand, the first thing you need to do is register your brand. This ensures that your product is presented to customers as one that can be trusted and that has been given the green light by the relevant authorities.
- GST Registration: In addition to this, you will be required to register your company for GST (Goods and Services Tax) in order to acquire a GST number.
- Pollution Control board NOC: Since the machine is going to be utilized in this enterprise, you will be required to obtain a Non-Obligation Certificate (commonly known as a NOC) from the Pollution Control Board.
Also, Read - How to Become a Home Appliance Dealer? - Best 10 Tips
5. Required Space
You can start this business anywhere, but if you want to avoid the hustle and bustle of the city, it is recommended that you choose a location on the outskirts of town. Starting this affordable extension board price business requires you to have a complete arrangement of money to invest before you can proceed. You should look for a location where you can buy or rent land at reasonable pricing and where there is at least 800 to 1200 square meters of space in order to get started with this business. Go ahead and take that location.
6. Raw Materials
In order to start an extension board manufacturing business, the first thing you'll need to do is purchase an extension board-making machine. You'll also need to purchase a motor, and in order to make switch boards, you'll need plywood and wood as raw materials, as well as switches, buttons, and sockets. Finally, you'll need to have an outlet available. You can purchase all of these things from the neighborhood market or directly from the manufacturer.
If you prefer, you can also buy and order online from a website such as Trade India, where you will find many machine companies that provide raw materials in addition to the machine and also provide services.
The total price might be somewhere between 1-2 lakhs of rupees; the following is a list of the various raw materials and machines:
- Packaging Materials
- Terminal
- Screw Pin
- Phenol Formaldehyde Molding Power
- Flap and Spring
7. Staff Requirement
Since you are going to be manufacturing electric extension boards and other electronic appliances as part of this company, you will also need some employees. Among these employees, you will need some mechanical engineers in addition to some workers who have previous experience working in factories that manufacture electrical equipment and who are knowledgeable about machinery and industrial processes. In addition, you will need to maintain a minimum of eight to ten workers at the initial level.
8. Methods of Producing Electrical Control Panels
You should begin by obtaining a high-quality C. R. sheet with a thickness of between 2 and 3 millimeters. Angles, flats, assorted electrical fittings and metering, etc. must also be provided per order and detailed specifications. Final thought: never settle for subpar or cheap raw materials.
The Control Panel can be open, semi-open, or fully open, and is made from sheet metal. It is responsible for distributing and regulating electrical current to various devices. Starting with the design is the first step. Next comes the making of it up part.
9. Find Yourself a Dependable Vendor
Find a dependable source if you wish to trade in electrical panels. Buying directly from the manufacturer of electrical panels is both the most cost-effective and convenient way to get these items.
You will be relieved to know that there is a specialized website that can offer you with a breakdown of manufacturers from all around the world.
You can look into electrical panel manufacturers on Alibaba.com, which is one of the websites you can peruse.
10. Marketing and Advertising
You can contact various dealers and distributors or other retailers, give them samples of your product, and if you get a positive response from them, they will start taking that supply from you, similairly, once your electronic appliances power extension board is ready, all of its product labels is done, marketing it is very important to grow the business, and the right approach to do wide range of commercial is through advertising and local Advertisement in news papers. Have the ability to market your company.
11. Profit Margin
You can earn a margin of at least 30-200 rupees by selling a switch board, and if you sell 100000 products in one year, then at least 30 lakhs to two crores can be profit; however, if you want to sell one lakh products, you will have to work very hard to do so. Speaking of earning profit through this business, the cost of making an extension board is up to 25 to 30 rupees, which is sold in the market for a minimum of 50 to 500 rupees
Conclusion
In India, private and government construction activity is rising rapidly. If an entrepreneur starts an Electric extension Board Manufacturing Business, he can earn a lot of profit because all the construction work is done there. The switchboard is used, and when it's already installed, it must be replaced often.
Electronic business functions well because electrical equipment is utilized everywhere, including in the office, the home, and other locations. Electronics equipment is a sector that every class needs. This is why making switchboards may be lucrative.
FAQs: Extension Board
Q. What does it mean when it says "6 amp maximum on extension boards"?
Ans: This strip is suitable for loads that do not exceed one thousand watts. Plugs rated for 16 amps have thick probes that can't be inserted into sockets rated for 6 amps because thicker conductors give less resistance and transporting greater current requires the resistance to be less.
Q. Is it safe to use an extension board?
Ans: If you anticipate needing to use extension cables or power boards frequently, it is usually safer and more convenient to just install more electrical outlets.
Q. Can we use a laptop extension board?
Ans: Yes, Make sure your cord has a minimum power rating of 1,825 watts and 125 volts.
Q. Which iron extension board is best?
Ans: You can choose INDRICO 1=1 Extension board because it is constructed for electrical irons with copper wire.
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